Impact mechanism of carbon emission trading pilot policy on green total factor productivity——Empirical research based on the double difference model

Abstract

This paper uses the panel data of 30 provinces and cities in China from 2008 to 2018, adopts the double-difference method and the mediation effect model to empirically evaluate the carbon emission reduction effect of the carbon emission trading pilot policy, and demonstrates that the specific impact mechanism of carbon emission trading pilot policy to improve green total factor productivity The study found that the carbon emission trading pilot policy promotes carbon emission reduction in regional industries through cost-benefit mechanisms, market mechanisms, and technological innovation mechanisms, thereby improving green total factor productivity; Corporate green technology innovation is the key way to promote carbon emission reduction and low-carbon development. , and the introduction of high-quality human capital can enhance the concept of green development for enterprises; the role of financial products such as green credit and green finance in serving green development has yet to be explored, and the foreign investment in the field of green development needs to be guided. Finally, it is concluded that the implementation of the pilot policy should uphold the principle of combining the government's macro-control and market-determining mechanism, play the key role of technological innovation, and formulate differentiated policies.